Spanish Inflation matches initial estimates for November

 

Spain´s National Institute of Statistics (INE) released a report from their offices earlier today showing how the country´s harmonized inflation reached 2.9% last month, matching initial estimates, but down fom the 3.0% seen in October.

On a month by month basis, the harmonized index of consumer prices increased by 0.2%.

The European Central Bank is now forecasting 'below, but close to 2.0´ inflation will be seen throughout the Eurozone, however the single currency area has remained above the target inflation level since December 2010.

Spain's consumer price annual inflation also fell to 2.9% as originally forecast in November, from 3% the month previously. At the same time, core inflation remained unchanged at 1.7%.

Month-on-month, consumer prices increased by 0.4% during November, compared to October's 0.8% increase.